Competition Commission v Trident Steel (Pty) Ltd (114/CR/Dec12) [2012] ZACT 104; [2013] 1 CPLR 112 (CT) (19 December 2012)

Competition Commission v Trident Steel (Pty) Ltd (114/CR/Dec12) [2012] ZACT 104; [2013] 1 CPLR 112 (CT) (19 December 2012)

The Tribunal found that Trident Steel admitted to engaging in price fixing in contravention of section 4(1)(b)(i) of the Competition Act, as detailed in the Commission's investigation and findings. The parties entered into a consent agreement, which included Trident's undertaking to refrain from future contraventions and to continue implementing a compliance program. The Tribunal confirmed the agreement as an order, subject to the payment of an administrative penalty of R8,563,835.65 within three months. The penalty represents 2% of Trident Steel's affected turnover for the 2007/2008 financial year. The order concludes all proceedings between the Commission and Trident Steel in relation...

Citation
[2012] ZACT 104
Parties
Applicant: The Competition Commission; Respondent: Trident Steel (Pty) Ltd
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
19 December 2012
Case Number
114/CR/Dec12
Procedural Posture
Consent Order Application / Order Confirming Consent Agreement
Outcome
Consent agreement confirmed as an order of the Tribunal; administrative penalty imposed.
Judges
N Manoim, M Mokuena, T Madima
Legal Topics
Price Fixing, Administrative Penalty, Consent Order, Corporate Leniency Policy
Competition Law Commercial and Corporate Price Fixing Administrative Penalty Consent Order Corporate Leniency Policy

Case Brief

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Parties

The Competition Commission

Applicant

Trident Steel (Pty) Ltd

Respondent

Procedural Posture

Consent Order Application / Order Confirming Consent Agreement

Legal Issues

  1. 1 Whether Trident Steel (Pty) Ltd engaged in price fixing in contravention of section 4(1)(b)(i) of the Competition Act.
  2. 2 Whether the consent agreement between the Competition Commission and Trident Steel should be confirmed as an order of the Tribunal.
  3. 3 Whether the administrative penalty imposed is appropriate and enforceable.

Ratio Decidendi

The Tribunal found that Trident Steel admitted to engaging in price fixing in contravention of section 4(1)(b)(i) of the Competition Act, as detailed in the Commission's investigation and findings. The parties entered into a consent agreement, which included Trident's undertaking to refrain from future contraventions and to continue implementing a compliance program. The Tribunal confirmed the agreement as an order, subject to the payment of an administrative penalty of R8,563,835.65 within three months. The penalty represents 2% of Trident Steel's affected turnover for the 2007/2008 financial year. The order concludes all proceedings between the Commission and Trident Steel in relation...

Court Disposition

Consent agreement confirmed as an order of the Tribunal; administrative penalty imposed.

Orders

  • The agreement between the Competition Commission and Trident Steel (Pty) Ltd is confirmed as an order of the Tribunal.
  • The administrative penalty of R8,563,835.65 must be paid to the Commission within three months of the date of this order.